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RESOLUTION NO. 2010 - 12 5 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA ESTABLISHING A DEFINED DEFERRED <br />COMPENSATION PLAN; PROVIDING FOR <br />EXECUTION OF TRUST JOINDER AGREEMENT; <br />PROVIDING FOR ADOPTION OF A DEFERRED <br />COMPENSATION PLAN; PROVIDING FOR <br />ACKNOWLEDGEMENT OF MASTER TRUSTEES; <br />PROVIDING FOR EXECUTION OF AN ADOPTION <br />AGREEMENT; PROVIDING FOR ABIDING BY <br />TERMS AND ACCEPTANCE OF SERVICES; <br />PROVIDING FOR TERMINATION OF <br />PARTICIPATION; PROVIDING FOR <br />ACKNOWLEDGEMENT REGARDING ASSETS; <br />PROVIDING FOR APPROVAL BY MASTER <br />TRUSTEES; PROVIDING FOR FULL FORCE AND <br />EFFECTIVENESS; PROVIDING FOR REPEAL OF <br />CONFLICTING RESOLUTIONS; AND PROVIDING <br />AN EFFECTIVE DATE. <br />WHEREAS, the Indian River County Board of County Commissioners (hereinafter referred <br />to as the "Participating Employer") has determined that in the interest of attracting and retaining <br />qualified employees, it wishes to offer a deferred compensation plan; <br />WHEREAS, the Participating Employer has also determined that it wishes to encourage <br />employees' saving for retirement by offering non-matching contributions; <br />WHEREAS, the Participating Employer has reviewed the Florida Municipal Pension Trust <br />Fund ("FMPTF") Deferred Compensation plan ("457 plan"); <br />WHEREAS, the Participating Employer wishes to participate in the 457 plan to provide <br />certain benefits to its employees, reduce overall administrative costs, and afford attractive <br />investment opportunities; <br />WHEREAS, the Participating Employer is an Employer as defined in the 457 plan; <br />WHEREAS, the Participating Employer shall execute a Trust Joinder Agreement to become <br />a party to the FMPTF Master Trust Agreement as a condition of participating in the 457 plan; <br />WHEREAS, the Participating Employer shall execute an Adoption Agreement for the 457 <br />Plan; and <br />WHEREAS, the Board of Commissioners of Indian River County is authorized by law to <br />adopt this resolution approving the Trust Joinder Agreement and the Adoption Agreement. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of <br />Indian River County, Florida: <br />